So how f'd up is this fiscal cliff thing? This morning I launched TurboTax 2013 to check for updates and it started to whimper and then peed in my hard drive; and the just-submitted Medicare enrollment form pinned to my bulletin board burst into flames.

I understand that getting a deal might help prevent a potential market free fall. But I can't help thinking that after all their progress, the Dems have once again snatched defeat from the jaws of victory.

But I can't help thinking that after all their progress, the Dems have once again snatched defeat from the jaws of victory.

Personally, I don't care about the Democrats or wether they "win" or not -- negotiation and compromise involves giving a bit on your opening offer. If the Dems had wanted to end-up at $250,000, they should have opened with a lower number. But they didn't, and it's unrealistic to assume their opening number was going to stand.

As it is, the Republicans gave in on raising taxes at all in return for the Dems giving in on the income level that gets taxed -- that give and take is kind of the way things are supposed to work.

Besides, $400,000 is what they were offering Boehner before he stomped away from the table anyways, so I guess I don't see where this deal (as much as we know about it) is any worse ...

[edit]

Here's one explanation of the White House's strategy:"And so, the idea is that itís better to lock in a deal on rates now, at, say, $450,000, extend unemployment benefits, and pocket those gains and continue the fight next year. Raising the income threshold is obviously not desirable, but Dems will have broken the decades-long GOP opposition to raising tax rates on the rich, pocketed hundreds of billions in revenues, made the tax code more progressive, and extended unemployment benefits ó all without agreeing to any spending cuts yet."

...

"But itís worth at least entertaining the possibility that the current posture the White House and Dems have adopted may be guided by an actual overarching strategy and game plan, and represents more than just a feckless cave, as many are suggesting."

Also, it looks like the Republicans are crying like stuck pigs, so that's probably a "good" sign, no? ;-)

I'm not saying that it's all bad ó and we don't even know yet if it's a done deal. Yes, Obama's last offer on the income threshold was up from the original $250K to $400K, plus the chained CPI on SS. So why now $450K? Because the chained CPI is supposedly off the table?

My worry is as much or greater over what happens in a couple of months when the debt ceiling issue comes due again. Will a less than stellar deal now embolden the Repugnicans to play chicken with the global economy again? Pissant Lindsey Graham has already said he'll go for it.

A deal like this gives me even less incentive to trust the right, and all the more reason to tell the left No more Mr. Nice Guy!

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